April 24, 2023
United States:
Bond Traders Wait for Calm to Shatter With Fed ‘Breaking Stuff’
Bond traders are taking little solace in the market’s recent calm for a simple reason: It’s not likely to last.
Two-year US Treasury yields, some of the most sensitive to expected changes in interest-rates, held in a relatively narrow range during the past week’s trading sessions, marking a reprieve from the volatility that erupted after Silicon Valley Bank’s collapse set off fears of a banking crisis.
Europe:
German House Price Slump Is Already Over as Building Costs Soar
Germany’s housing prices are rising as increased costs for building materials slow the pace of construction and help put an end to a short-lived slump.
A measure of home valuations rose in March for the second consecutive month fueled by a tighter market for apartments and new houses, according to data released Monday by mortgage technology provider Europace AG. The reading for new homes hit a record last month.
Asia:
Chinese Leaders Highlight Economic Risks as Recovery Takes Hold
Chinese President Xi Jinping and other top leaders highlighted several risks the economy still faces as growth rebounds this year, repeating the need for more self-reliance in key areas like technology in the face of growing competition from the US.
Xi and his No. 2, Premier Li Qiang, stressed the importance of innovation and competitiveness in separate meetings in the past few days. A vice commerce minister also said this weekend China will take steps to boost trade with major nations amid a slowdown in the global economy.
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